Tim Draper’s Venture Studio to Triple-Down on Blockchain Projects With a $25M Fund | Blockchain Bitcoin News

Bitcoin.com

At the LA Blockchain Summit, the blockchain and fintech venture studio Draper Goren Holm announced the launch of a $25 million blockchain fund called “Fund 1.” According to the announcement the money will be used for promising blockchain and fintech startups in Series A and seed investments.

On October 6, 2020, the Los Angeles-based venture studio Draper Goren Holm revealed the launch of a new blockchain and fintech fund at the annual LA Blockchain Summit.

How To Get Free Crypto  

The studio Draper Goren Holm is basically a partnership between Josef Holm, Alon Goren, and the well known venture capitalist Tim Draper. The company is focused on incubating startups that are working in fintech and creating blockchain solutions. For instance, news.Bitcoin.com reported on Draper Goren Holm’s WordPress plugin that gives anyone the ability to create a crypto exchange on a WP-based site.

At the LA Blockchain Summit the three founders discussed the new blockchain and fintech venture called “Fund 1.” The initial investment strategy will be to invest in novel early-stage projects and Draper Goren Holm already has a portfolio of around 18 startups.

Fund 1’s focus is international and transcends borders but for now, the venture fund will concentrate on Europe. The fund is to start investing in blockchain and fintech projects immediately and the firm is opening a new office in Vienna, Austria.

“This first close was a sort of ‘friends and family’ round,” Alon Goren, Founding Partner of Draper Goren Holm said at the LA Blockchain Summit. “Alongside Tim Draper and other individual friends investing in us again, other blockchain funds like Blockchain Founders Fund and the Keiretsu Capital Blockchain Fund of Funds participated.”

Coinbase Banner  

From left to right: The founding partners Alon Goren, Tim Draper, and Josef Holm.

Draper Goren Holm’s 18 startups have already seen internal growth and ideas like the digital securities sector, security tokens, and decentralized finance (defi) have bolstered the development.

“I’m thrilled to participate in Draper Goren Holm’s Fund 1 as the team continues to maintain their dominance in Los Angeles, and soon, internationally,” said Tim Draper. “This new fund will allow us to double and even triple-down on our favorite projects.”

The venture studio’s $25 million blockchain investment fund follows Andreessen Horowitz recently funneling $500 million into the crypto industry with the “Crypto Fund II.” Similarly to Draper Goren Holm’s announcement, in the midst of a gloomy global economy, Andreessen Horowitz’s Crypto Fund II aims to cushion crypto networks and businesses.

While discussing the international expansion, the founding partner Josef Holm, said Europe is becoming a fintech hub specifically with “blockchain innovation.”

FreeBitcoin Banner  

“It’s incredible to see how pro-crypto and blockchain European governments have become the last couple of years as their favourable regulations have attracted a flock of talented and diverse entrepreneurs building incredible projects across Vienna, Zug, and Berlin, to name a few,” Holm stressed.

“Fund 1 will capture this ever-growing market and Draper Goren Holm will expand its value-add beyond our initial home borders of Los Angeles,” the executive added.

What do you think about Draper Goren Holm’s blockchain and fintech fund called “Fund 1?” Let us know what you think about this subject in the comments section below.

Tags in this story
$25 million, Alon Goren, Andreessen Horowitz, Berlin, Blockchain Fund, Crypto, Crypto Fund II, crypto solutions, Cryptocurrency, decentralized finance, DeFi, Europe, Fintech Fund, Fund 1, Josef Holm, Los Angeles, Startups, Tim Draper, venture studio, vienna, wordpress plugin, Zug

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Go to Source
Author: Jamie Redman


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.